New York State Common Retirement Fund Sells 48,500 Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

New York State Common Retirement Fund cut its holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 54.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,884 shares of the transportation company's stock after selling 48,500 shares during the quarter. New York State Common Retirement Fund's holdings in J.B. Hunt Transport Services were worth $6,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in J.B. Hunt Transport Services by 8.0% during the fourth quarter. Signaturefd LLC now owns 820 shares of the transportation company's stock worth $140,000 after buying an additional 61 shares in the last quarter. Exchange Traded Concepts LLC raised its position in J.B. Hunt Transport Services by 13.2% in the first quarter. Exchange Traded Concepts LLC now owns 731 shares of the transportation company's stock valued at $108,000 after purchasing an additional 85 shares during the period. Wahed Invest LLC raised its position in J.B. Hunt Transport Services by 4.6% in the fourth quarter. Wahed Invest LLC now owns 2,080 shares of the transportation company's stock valued at $355,000 after purchasing an additional 91 shares during the period. Man Group plc raised its position in J.B. Hunt Transport Services by 0.9% in the fourth quarter. Man Group plc now owns 11,165 shares of the transportation company's stock valued at $1,905,000 after purchasing an additional 98 shares during the period. Finally, TD Private Client Wealth LLC raised its position in J.B. Hunt Transport Services by 49.3% in the first quarter. TD Private Client Wealth LLC now owns 330 shares of the transportation company's stock valued at $49,000 after purchasing an additional 109 shares during the period. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at J.B. Hunt Transport Services

In other news, COO Nicholas Hobbs acquired 1,529 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was bought at an average price of $130.75 per share, with a total value of $199,916.75. Following the completion of the acquisition, the chief operating officer owned 91,847 shares in the company, valued at approximately $12,008,995.25. This represents a 1.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

J.B. Hunt Transport Services Stock Up 2.9%

Shares of J.B. Hunt Transport Services stock traded up $4.33 on Tuesday, hitting $151.93. 987,146 shares of the company traded hands, compared to its average volume of 997,911. The company has a 50-day moving average price of $144.65 and a 200 day moving average price of $151.08. The company has a quick ratio of 0.89, a current ratio of 0.87 and a debt-to-equity ratio of 0.28. J.B. Hunt Transport Services, Inc. has a 12-month low of $122.79 and a 12-month high of $200.40. The company has a market cap of $15.07 billion, a PE ratio of 27.62, a PEG ratio of 2.29 and a beta of 1.29.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). J.B. Hunt Transport Services had a return on equity of 14.26% and a net margin of 4.59%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company posted $1.32 EPS. The business's revenue was up .0% compared to the same quarter last year. Sell-side analysts predict that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, May 9th. J.B. Hunt Transport Services's dividend payout ratio (DPR) is presently 32.00%.

Analyst Upgrades and Downgrades

JBHT has been the subject of several analyst reports. Susquehanna boosted their target price on J.B. Hunt Transport Services from $155.00 to $157.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Sanford C. Bernstein set a $148.00 price objective on J.B. Hunt Transport Services and gave the stock a "market perform" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group set a $164.00 target price on J.B. Hunt Transport Services in a research report on Tuesday, July 8th. Benchmark reissued a "buy" rating and issued a $175.00 target price on shares of J.B. Hunt Transport Services in a research report on Wednesday, April 16th. Finally, UBS Group reaffirmed a "buy" rating on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $164.90.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.